I got commision 100000 from raj and co.

I got cheque of 90000 after tds deduction 10000.

What entries I will had to make in tally and under which heads of tally

Please explain the entries.

pankaj surana

Feb. 10, 2017, 1:41 p.m.

Answers!

Davneet Singh

Feb. 11, 2017, 12:23 p.m.

For Commission Income

Pass entry

Raj and Co Dr 100,000

To Commission Income 100,000

(Raj and Co is Sundry Debtor

Commission Income is under Direct Income

It is a Journal Entry in Tally)

For Receipt of Money

Bank A/c Dr 90000

TDS Receivable Dr 10000

To Raj and Co 100000

(It is a Receipt entry in Tally

TDS Receivable is a Current Asset)

Bank is under Bank Account

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